Bitcoin is heading towards a downtrend. Bitcoin lost more than 20 percent in its most recent decline, falling below $30,000.

Bitcoin’s 50-day moving average is on its way to crossing its 200-day moving average to the downside. This is interpreted as a sign that a downtrend will begin in the markets.

The 50-day moving average of Bitcoin, the cryptocurrency with the largest market capitalization, last cut its 200-day moving average by more than 20%, falling below $30,000.

Bitcoin fell sharply on Monday, seeing below $ 40,000 for the first time since September. After the selling wave that spread throughout the crypto money markets, Bitcoin recovered on Tuesday and climbed above $ 42 thousand again.